By Devika Patel
Knoxville, Tenn., June 15 - Typhoon Exploration Inc. said it raised C$500,000 in the initial tranche of a C$4.1 million private placement of units. The deal priced May 18.
The company is selling 5 million units at C$0.82 per unit. It sold units to Aurizon Mines Ltd. in the first tranche. Each unit consists of one common share and one warrant. The 18-month warrants are exercisable at C$1.25.
MGI Securities Inc. is the agent.
Proceeds will be used for drilling and general working capital purposes.
Typhoon is a resource exploration company based in Laval, Quebec.
| Issuer: | Typhoon Exploration Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$4.1 million
|
| Units: | 5 million
|
| Price: | C$0.82
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.25
|
| Agent: | MGI Securities Inc.
|
| Investor: | Aurizon Mines Ltd. (for C$500,000)
|
| Pricing date: | May 18
|
| Settlement date: | June 15 (for C$500,000)
|
| Stock symbol: | TSX Venture: TYP
|
| Stock price: | C$0.96 at close May 18
|
| Market capitalization: | C$7 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
